A combined 910 million hours of care are provided by family caregivers in New Jersey every single year — entirely unpaid. The estimated annual cost of this service is valued at $13 billion and will continue to increase as more and more people require an at-home caregiver. Finding funding should be easy, which is why Aidaly strives to connect family caregivers with financial support in New Jersey. Read on to discover some programs you may qualify for.
Tax Benefits In New Jersey
Taxes can be costly — especially when you’re a family caregiver. Fortunately, New Jersey offers tax benefits to ease the financial burden.
Child and Dependent Tax Credit
The CDCTC compensates family caregivers for a portion of your cost-related expenses. In New Jersey you can receive a tax credit of $1,400. Compared to the federal level, this is an extra $300 in credit every year! You can find out more about your eligibility here.
Medical and Dental Expenses Tax Deductions
When your medical and dental expenses exceed 7.5% of your adjusted gross income for the year, you qualify for a particular itemized tax deduction off these relevant expenses. Discover more information about New Jersey tax deductions here.
Medicaid and Other State Benefits
State-funded and Medicaid plans are available for family caregivers to receive funding. Find out more here.
New Jersey Assistance for Community Caregiving
JACC is a state-run program that offers those receiving care the option to select their family member as their caregiver. Unlike Medicaid, this includes a spouse. As long as you meet requirements, such as a single income less than $46,572 per year, you can receive payment for your caregiving services. You can check out the JACC’s rules and regulations here.
Personal Preference Program (PPP)
Through the PPP dependent individuals who require extensive care can choose to remain at home and hire a paid family caregiver. You will need to be eligible for New Jersey Family Care to qualify for the program. The PPP offers more information here.
Medicaid pays family caregivers through their waivers, which Medicaid participants are entitled to if they qualify for particular disability benefits. Importantly, your loved one can choose a family caregiver instead of traditional caregiving services, meaning all funding is returned to your pocket. Find out more about Medicaid waivers here.
Veterans Benefits In New Jersey
If you care for a Veteran, you can apply for VA programs to receive financial support. Click here for more detail on Veteran care schemes in the United States.
Program of Comprehensive Assistance for Family Caregivers
With the PCAFC, family caregivers can receive a stipend of up to $2,750 per month. Other support benefits include counselling, training, and respite care. Dependent care-receivers who were injured or contracted an illness during active service may qualify for this program. You can check your eligibility here.
Veteran Directed Home & Community Based Care
The VDC program grants dependent Veterans the autonomy to direct their monthly care stipend to their family member. This way, you are provided payment by the VA for your services as if you were “hired.” The typical hourly rate is $8-$21 per hour. Learn more about community-based VA services here.
Veteran Aid & Attendance Pension Benefit
Family members are provided payment for caring for a loved one through the A&A. If your family member is a veteran and meets a disability requirement, you can receive up to $3,261 every month to assist with care expenses! Check to see if you’re eligible here.
Caring for a loved one can be incredibly stressful. With the right financial support, you’ll notice an improvement in your care and your own quality of life. Aidaly makes finding funding simple. Join today and discover more of the financial programs you’ve been looking for.